For the first time in history, Francoise Bettencourt Meyers has become the owner of a huge $100 billion wealth. Not only does this amazing accomplishment solidify her position as a global financial powerhouse, but it also marks a major turning point for France’s growing fashion and makeup industries.
The Bloomberg Billionaires Index says that Bettencourt Meyers’ wealth has grown to an amazing $100.1 billion. At the same time as this important event, shares of L’Oréal SA, the beauty products company started by her grandfather, hit a record high.
The stock is on track for its best year since 1998, which would make her the 12th richest person in the world, just behind Carlos Slim of Mexico.
Private Life and Family History
People know Bettencourt Meyers for living alone and staying away from the fancy social events that the world’s rich and famous go to. She is known for both her business sense and her intellectual interests.
She has written two books: a five-volume study of the Bible and a genealogy of the Greek gods. She loves playing the piano so much that she spends hours every day doing it.
Billionaire Women
The History of L’Oréal
Bettencourt Meyers, who is 70 years old, is the vice-chair of the board of L’Oréal, a €241 billion ($268 billion) company with operations all over the world. It is her family that owns the most shares, with a stake of almost 35 percent.
Eugene Schueller, her grandpa and a chemist, started L’Oréal in 1909. It has been a symbol of success and new ideas in the beauty industry. Bettencourt Meyers got her mother Liliane Bettencourt’s money when she died in 2017. She was an only child.
What the Future Holds
Even though there were problems, L’Oréal grew quickly in the ten years before the pandemic. After the drop during the health crisis, when people used less makeup during lockdowns, there was a quick rise again as people bought more luxury items.
The company’s shares have gone up 35% just this year, and Consumer Edge Research expert Brett Cooper thinks they could go up another 12% in the next year. He says the company’s strengths are its wide range of products and locations.
